KUALA LUMPUR (Feb 4): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Friday, Feb 5) include: My EG Services Bhd (MyEG), Solarvest Holdings Bhd, Green Packet Bhd, GHL System Bhd, Solution Group Bhd, Tropicana Corp Bhd, Reservoir Link Energy Bhd, CIMB Group Holdings Bhd and Ranhill Utilities Bhd.

MyEG, Solarvest, Green Packet, GHL, Solution, Tropicana, Reservoir Link, CIMB and Ranhill

Seni Jaya Corp Bhd has been slapped with an unusual market activity query by Bursa Malaysia following the sharp rises in its share price and trading volume recently.

Bursa issues UMA query to Seni Jaya, freezes stock's upper limit price

KUALA LUMPUR (Feb 4): Tropicana Corp Bhd has promoted Lee Han Ming (pictured) as group chief executive officer with effect from today.

Lee will join group managing director Dion Tan in the senior leadership team, the property developer said in a statement.

Tropicana names Lee Han Ming as group CEO

The climb to fresh peaks continues among semiconductor-related stocks, which are also generally known as tech counters, on Bursa Malaysia.

A majority of these stocks have shot up more than 30% since the start of the new year. Malaysian Pacific Industries Bhd (MPI) leads the pack and it has gained 38.4% year to date. Others are UWC Bhd (32.9%), Greatech Technology Bhd (37.4%), Pentamaster (32%) and Unisem (35.9%).

Tech stocks the top gainers in 2021 so far, seven counters hit record high

Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Feb 4) include: LPI Capital Bhd, Leong Hup International Bhd, Chin Hin Group Property Bhd, Icon Offshore Bhd, Hong Seng Consolidated Bhd, Widad Group Bhd and Asdion Bhd.

LPI Capital, Leong Hup, Chin Hin Property, Icon Offshore, Hong Seng, Widad and Asdion

KUALA LUMPUR (Feb 3): Hong Seng Consolidated Bhd’s unit has bagged a RM34.25 million contract to supply polymerase chain reaction (PCR) test kits for Covid-19 to the Institute for Medical Research (IMR).

The unit, Pantasniaga Sdn Bhd, is an authorised representative and distributor for BGI Genomics Co Ltd, which is a 51%-owned subsidiary of HS Bio Supplies Sdn Bhd, which in turn is a wholly-owned unit of Hong Seng.

Hong Seng unit bags RM34m contract to supply Covid-19 test kits to IMR

KUALA LUMPUR (Feb 3): CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched a one-stop sustainability solution for local small and medium enterprises (SME).

GreenBizReady will provide the SMEs with a competitive advantage by equipping them with practical knowledge and tools to incorporate economic, environmental and social (EES) considerations into their business, CIMB said in a statement.

CIMB launches one-stop sustainability solution GreenBizReady for SMEs

IOI Corp Bhd said that within the early months of 2022, the oil palm planter expects to reap a bountiful harvest of MD2 pineapples as well as other cash crops when they are ripe for harvest.

Pineapple is the latest hype in IOI Corp's diversification push

Bursa Malaysia Bhd expects about 30 new listings this year, compared with 19 last year, said its CEO Datuk Muhamad Umar Swift.

He added, however, that the projection may be affected by the impact of the movement control order (MCO 2.0) on corporate results.

Bursa expects new listings in 2021 to rise to 30

Bursa Malaysia Bhd is aiming to bring public listed companies on the environmental, social and corporate governance journey.

Only 75 listed companies compliant with Bursa's ESG measures

Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement 

Maintaining Malaysia’s current account surplus and foreign investments over the long term hinges on the country’s ability to upgrade its goods and services production, said Malaysian Rating Corp Bhd (MARC).

Making valuable exports key to sustaining Malaysia’s current account surplus, foreign investments — MARC

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

The next elephant in the room

Transitioning away from fossil fuel dependence is the key takeaway from the latest United Nations Climate Change Conference (COP28) held in the United Arab Emirates in December 2023. To expedite the shift from fossil fuels to renewable energy, 130 countri...

My Say: Sustainable finance: Taking a good look at the hard-to-abate sectors

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

India began voting on Friday in the world's largest election as Prime Minister Narendra Modi seeks a historic third term in office on the back of growth, welfare, his personal popularity and Hindu nationalism.

India begins voting in gigantic election, Modi seeking historic third term

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

Israel has attacked Iran, three people familiar with the matter said, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.

Israel attacks Iran, Reuters reports, as drones spotted over Isfahan 

Israel has attacked Iran, three people familiar with the matter said, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.

Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

Awantec shares plunge 53%, intraday short selling suspended 

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.

PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

 Sarawak aiming to transform itself into a centre for clean hydrogen energy

Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.

Stocks sink, oil jumps after Israeli attack on Iran

Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

Apple pulls WhatsApp, Threads from China app store after Beijing order

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

US stops UN from recognising a Palestinian state through membership

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.

US bank reserve balances see largest drop since 2022 tax season

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.

FBI says Chinese hackers preparing to attack US infrastructure

Bursa Malaysia started the morning trading in positive territory, attributed to broad-based buying in response to a regional recovery, with investors seen focusing on counters with high cash reserves.

Bursa opens higher on buying sentiment

RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.

Muhibbah Engineering may be headed for uptrend, says RHB Retail Research 

Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.

Cocoa soars above US$11,000 a tonne as processing pace holds up

Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday.

Wong Ee Lin

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